The global gaming market is on track to shrink 4.3 per cent this year, according to gaming statistics analyst Newzoo.
The market will bring in A$275.63 in 2022. Newzoo previously forecast a 2.1 per cent retraction from 2021, but has revised this, due to 2022 being a “corrective year.”
Boxed PC games revenue will grow 1.8 per cent to A$57.1 billion, while cloud-based PC games will plummet 16.7 per cent, to A$3.4 billion.
Mobile games are down 6.4 per cent to A$137.8 while console games revenue is expected to drop 4.2 per cent to $77.4 billion.
‘’Looking back at our pre-pandemic forecast for the games market (from January 2020), revenues in 2020 and 2021 were much higher than we anticipated back then, while 2022 is slightly lower,” said Tom Wijman, Newzoo’s Head of Reports & Forecasting.
“While this revised forecast may seem like a setback for the games market, we note that the sum of revenues generated from 2020 to 2022 is almost US$43 billion [A$64.3b] higher than we originally forecast pre-pandemic.
‘’Our outlook for the mobile games market changed significantly compared to our previous forecast,’’ said Wijman.
‘’While we anticipated that the removal of IDFA and pressure on people’s disposable income would dampen spending on mobile games, the first quarter of 2022 was still relatively strong.
“However, spending in the second quarter was significantly lower than last year’s, and signs show that it did not recover in the third quarter.’’
Spend in the Asia Pacific region is down 5.6 per cent, to $131.35 billion.
Newzoo expects the global market to reach A$315.6 billion by 2025.
